Key Takeaways

• Top story: Bitcoin moves above $90,000, overcoming traditional Thanksgiving market weakness.
• Nasdaq submits SEC filing to enable tokenized securities trading on its platform.
• ETFs: Spot Bitcoin ETFs experience net outflows totaling several hundred million dollars.
• Safe haven narrative: Gold’s recent rally surpasses Bitcoin’s gains, renewing debates about safe asset preferences.
• Regulatory focus grows as established exchanges consider blockchain-based offerings.

Below, the full context and what these shifts could mean for newcomers and investors.

Introduction

Bitcoin’s recovery above $90,000 on 27 November 2025 stands out in the crypto press review, defying its usual Thanksgiving decline. This rebound occurs as Nasdaq files with the SEC for tokenized securities, amid notable ETF outflows and gold’s challenge to Bitcoin’s status as a safe haven.

Top Story

Bitcoin Recovers Above $90,000

Market sentiment improves

Bitcoin has climbed back above $90,000, recovering from last week’s dip below $85,000. The leading cryptocurrency gained 6.8% in the past 24 hours, reaching $92,456 at the time of publication, according to CoinGecko.

Trading volumes increased by more than 30% compared to the seven-day average, with over $42 billion in spot Bitcoin traded across major exchanges. This recovery coincides with improving risk sentiment in broader financial markets and follows comments from Federal Reserve officials suggesting a possible shift in monetary policy.

Market analysts highlight institutional buying as a key driver behind the recovery. Marcus Thielen, head of research at Matrixport, stated that on-chain data shows significant accumulation from wallet addresses holding over 1,000 BTC during the recent dip, indicating strong conviction from larger participants.

Technical outlook strengthens

The move above $90,000 marks a critical technical breakthrough. Bitcoin has reclaimed its 20-day moving average for the first time since early November. This indicator is closely monitored by traders for shifts in short-term momentum.

Cryptocurrency trading desks report decreasing sell-side pressure and increasing open interest in Bitcoin futures and options markets. Derivatives data shows traders positioning for a possible year-end rally, with call options at the $100,000 strike price seeing higher volume.

Sarah Bergstrand, cryptocurrency analyst at Bernstein, commented that the bounce off $85,000 support was stronger than many expected. That suggests the correction may have been a healthy reset rather than the start of a deeper decline.

Also Today

Institutional Moves

JPMorgan launches crypto trading desk

JPMorgan has officially launched its cryptocurrency trading desk for institutional clients, marking a significant step for the bank. The new desk will initially support Bitcoin, Ethereum, and select other digital assets.

The service will be offered to qualified institutional clients, including hedge funds, asset managers, and corporate treasuries. The bank stated that the platform includes advanced risk management and compliance features designed for digital asset trading.

Mary Callahan Erdoes, CEO of JPMorgan Asset & Wealth Management, stated that client demand for exposure to digital assets now requires institutional-grade infrastructure for the asset class to mature.

BlackRock expands crypto ETF offerings

BlackRock has filed for three new cryptocurrency exchange-traded funds focused on blockchain infrastructure, decentralized finance, and Web3 applications. This expansion follows the strong performance of its spot Bitcoin ETF, which has reached over $15 billion in assets since its January launch.

Filings with the Securities and Exchange Commission outline products tracking companies developing blockchain technology, operating DeFi protocols, and building Web3 infrastructure. If approved, these would constitute some of the most comprehensive crypto-themed ETFs from a major financial institution.

BlackRock CEO Larry Fink stated during an investor call that digital assets represent a technological revolution transforming the creation, transfer, and security of value in the digital economy.

Funds & Safe Haven Debate

Institutional inflows hit quarterly high

Cryptocurrency investment products recorded $1.8 billion in inflows last week, bringing the quarterly total to $7.2 billion. This is the highest since the fourth quarter of 2021, according to CoinShares’ latest fund flows report.

Bitcoin-focused products accounted for $1.3 billion of the week’s inflows. Ethereum products saw $320 million in new investments. Multi-asset and altcoin-specific funds made up the remainder.

James Butterfill, head of research at CoinShares, noted that the steady inflows during price corrections suggest institutional investors are maintaining a long-term strategy rather than reacting tactically to short-term moves.

Gold outperforms Bitcoin amid uncertainty

Over the past month, gold has outpaced Bitcoin, gaining 4.8% while Bitcoin increased by 1.2% despite its latest recovery. Gold reached an all-time high of $2,745 per ounce this week, illustrating its enduring appeal as a traditional safe haven.

Several investment banks, including Goldman Sachs and Citigroup, have raised their gold price forecasts for 2026 due to geopolitical tensions and anticipated lower interest rates. This performance challenges the “digital gold” narrative that has supported Bitcoin throughout 2025.

Nouriel Roubini, economist and CEO of Roubini Macro Associates, explained during a Bloomberg Television interview that while crypto proponents argue for Bitcoin as an inflation hedge, recent market behavior shows investors still turn to gold during periods of heightened uncertainty.

Market Wrap

Cryptocurrency sector performance

The total cryptocurrency market capitalization has rebounded by 5.3% to $3.2 trillion, regaining nearly two-thirds of last week’s losses. Ethereum rose 5.2% to $4,750, while Solana posted a 7.8% gain to reach $220.

Layer-2 scaling solutions showed mixed results, with Arbitrum up 4.3% and Optimism increasing by 2.9%. The DeFi sector outperformed the broader market, advancing 6.1% led by Aave and Uniswap.

Meme coins lagged behind the general market, as Dogecoin and Shiba Inu posted modest gains of 2.4% and 3.1% respectively. Gaming and metaverse tokens showed stronger momentum, with The Sandbox rising 6.7% and Axie Infinity adding 5.9%.

Traditional markets correlation

U.S. equity markets advanced alongside crypto, with the S&P 500 gaining 0.7% and the Nasdaq Composite rising 1.2%. Technology stocks rose sharply, especially in semiconductors, after Taiwan Semiconductor Manufacturing Company announced expanded production plans.

Treasury yields declined, with the 10-year yield falling 4 basis points to 3.82%, providing a supportive environment for risk assets. The U.S. Dollar Index (DXY) weakened by 0.3%, a pattern that typically supports cryptocurrency strength.

In Europe, the STOXX Europe 600 added 0.5%. Asian markets closed mixed, with Japan’s Nikkei 225 up 0.7% and Hong Kong’s Hang Seng down 0.3%.

What to Watch

• The Securities and Exchange Commission will review several spot Ethereum ETF applications on 5 December 2025, with expectations for decisions on proposals from Franklin Templeton and Fidelity.
• Circle, issuer of the USDC stablecoin, will release its quarterly attestation report on 30 November 2025, providing reserves transparency for the second-largest stablecoin.
• The Federal Reserve will publish minutes from its November meeting tomorrow at 2:00 PM EST, potentially offering insight into monetary policy that could impact crypto markets.
• Galaxy Digital will host its Institutional Crypto Outlook conference on 2 and 3 December 2025 in New York, with panels featuring major financial institutions and regulatory experts.
• Argentina’s Central Bank will announce its revised cryptocurrency regulatory framework on 4 December 2025, following recent pro-crypto comments from President Javier Milei.

Conclusion

Bitcoin’s move above $90,000 marks a significant shift in the crypto press review. It reflects renewed institutional confidence despite volatility and increasing competition from traditional safe havens like gold. The advance parallels positive sentiment in equity markets and ongoing developments in tokenized securities. What to watch: SEC decisions on spot Ethereum ETFs and major regulatory updates from leading crypto platforms and central banks in early December.

technical breakthrough

institutional investors are maintaining a long-term strategy

market behavior shows investors

Layer-2 scaling solutions

momentum